GMM Pfaudler hits 52-week high; jumps 25% in three days

6 Sep 2022 , 03:24 PM

Shares of GMM Pfaudler jumped nearly 25.3% in three trading sessions from its previous closing low of Rs 1,655.55 on 1 September 2022. The counter hit a 52-week high of Rs 2,110 in intraday today. The stock has surged 65.9% from its 52-week low of Rs 1,249.75 recorded on 14 June 2022. On the BSE, 1.91 lakh shares were traded in the counter so far compared with average daily volumes of 32,000 shares in the past two weeks. In last one month, the stock has jumped nearly 31% outperforming the Nifty 50 index which rose 0.72% in the same period. On the daily chart, the stock is trading above its 50, 100 and 200-day simple moving average placed at 1536.73, 1490.58 and 1519.62 respectively. These levels will act as crucial support zones in near term. On the technical front, the stocks daily RSI (relative strength index) stood at 82.347. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30. GMM Pfaudler delivers corrosion-resistant technologies, systems, and services worldwide and remains the preferred choice by consistently providing its customers in the chemical and pharmaceutical industries with innovative and cost-effective solutions. The companys consolidated net profit surged to Rs 44.51 crore in Q1 FY23 as against Rs 2.59 crore in Q1 FY22. Net sales rose 34% YoY to Rs 739.24 crore in the quarter ended 30 June 2022. Powered by Capital Market – Live News